What are the intent and impact of domestic content requirements?
What will be an ideal response?
Domestic content requirements try to limit the practice of job outsourcing and also encourage the development of domestic industry. They stipulate the minimum percentage of a product's value that must be produced in the home country for that product to be sold there. Domestic content protection tends to impose welfare losses on the domestic economy in the form of higher production costs and higher-priced goods.
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Service ________ means that services cannot be seen, tasted, felt, heard, or smelled before they are bought
A) inseparability B) variability C) intangibility D) perishability E) heterogeneity
Under Article 2 of the UCC, acceptances are effective when dispatched
Indicate whether the statement is true or false
Because U.S. laws tightly regulate the disposal of toxic materials from the thousands of electronic devices discarded each year, some companies have contracted with companies in China and other countries to dispose of these products. Unfortunately, the lack of regulation in these countries has resulted in unsafe disposal practices, creating toxic waste areas where drinking water and soil are no longer safe. This situation illustrates the concept of:
A. Comparative advantage B. Social dumping C. International degradation D. Competitive advantage
Which of the following cannot be considered a nontariff trade barrier?
A. Taxes on imports B. Import licensing and product standards manipulated to favor domestic companies C. Domestic subsidies D. Quotas